Pakistonomy

In this episode, Uzair talks to Shuja Nawaz about 1971 and the events leading up to the birth of Bangladesh. Shuja talks about the political, military, and economic crisis in what was then East Pakistan, the missed opportunities to politically settle the issue, and the disastrous military strategy deployed by Yahya and his cabal. Shuja Nawaz, a native of Pakistan, was made the first director of the South Asia Center at the Atlantic Council in January 2009. He is currently a distinguished fellow at the Center. A political and strategic analyst, Mr. Nawaz writes for leading newspapers and websites and speaks on current topics before civic groups, at think tanks, and on radio and television worldwide. He was a newscaster and news and current affairs producer for Pakistan Television from 1967 to 1972 and covered the western front of the 1971 war between Pakistan and India. He is the author of The Battle for Pakistan: The Bitter US Friendship and a Tough Neighbourhood (Penguin Random House, 2019 and Rowman & Littlefield 2020), and Crossed Swords: Pakistan, its Army, and the Wars Within (Oxford University Press 2008 and 2017). Reading Recommendations: The Transformation of War by Martin van Creveld War from the Ground Up by Emile Simpson Chapters: 0:00 Introduction 1:20 Why is December 16 an important day? 6:20 Was 1971 the result of a political failure? 17:12 Bhutto, America, and Racism 36:50 Fallout of the surrender in Dhaka 44:16 Have we learnt anything from 1971? 48:27 What current crisis in Pakistan 57:38 Reading recommendations

In this episode, Uzair talks to Yousuf Farooq about his experience running a manufacturing business in Pakistan, why free markets are the need of the hour, and the effect of government interventions in creating distortions that ultimately harm companies like his. Yousuf is the director of Elite Lighting, a company that is making products in Pakistan that are competitive in the market. He is also CEO of Oqaab Capital and has a wealth of experience in financial markets. You can follow Yousuf on Twitter @YousufMFarooq Reading Recommendations: - Influence: Science and Practice by Robert Cialdini - The Most Important Thing by Howard Marks - The Dhandho Investor: The Low-Risk Value Method to High Returns by Mohnish Pabrai Yousuf also recommends that folks watch this talk by Charlie Munger - https://youtu.be/zNxsAhc6sk8

In this episode, our regular guest Khurram Husain joins Uzair to talk about the state of Pakistan’s economy, the status of the IMF program, why the exchange rate is under pressure, and the fight between Dar and Miftah. Khurram is a business and economy journalist and he shares his thoughts with Uzair on the outlook for the IMF program and why Pakistan’s economy is going to face more volatility in the coming weeks and months. Chapters: 0:00 Introduction 1:10 Will Pakistan default? 5:30 Exchange rate issues 12:10 Afghanistan and dollar demand 20:10 Where did the IMF program go south? 36:40 Dar v. Miftah

In this episode, Uzair talks to Dr. Erum Haider about her research on Karachi's water crisis. We talk about how people in the city get access to water, how this is a regressive system, and what are the political implications of this crisis. Dr. Erum Haider is an Assistant Professor in Political Science and Environmental Studies at the College of Wooster. Dr. Haider received her PhD from Georgetown University, Department of Government in 2020. She is currently a Research Fellow at the Mahbub ul Haq Research Center in Lahore, Pakistan and a Non-Resident Senior Fellow at the Atlantic Council, DC. Chapters: 0:00 Introduction 1:30 How do citizens get their water? 10:10 Regressive impact of water pricing 16:10 Political impact of the crisis 23:10 Is this leading to a grassroots movement? 32:20 Can Karachi force Sindh government to change? 43:10 How to change these structures? 49:10 Reading recommendations You can read the blogpost about the reserach here - https://www.theigc.org/blog/line-tanker-tube-well-water-and-the-politics-of-hybrid-service-delivery-in-karachi/ Reading recommendations: - Pakistan's Political Parties: Surviving between Dictatorship and Democracy by Mariam Mufti, Sahar Shafqat, and Niloufer Siddiqui - In Search of Lost Glory: Sindhi Nationalism in Pakistan by Asma Faiz - The Seven Moons of Maali Almeida by Shehan Karunatilaka

Venture capital is the fuel that powers an economy's innovation ecosystem, disrupting the old way of doing business and generating growth. In this episode, Uzair talks to Mohamed Eissa about the IFC's perspective on venture capital and the role the IFC is looking to play in Pakistan. Eissa talked about why Pakistan is an attractive market, what investments the IFC is going to make in the near-term, and why failure should be celebrated. Mohamed leads IFC’s Global Venture Capital and Direct Investments group. As a member of the investment committee, he leads a team of investment professionals in Latin America, Africa, the Middle East, Eastern and Central Europe, South Asia and Asia-Pacific region. IFC’s portfolio investments include venture capital funds and direct investments in disruptive startups in over 30 countries. Prior to IFC, he led technology investments at Gulf Investment Corporation (GIC) – a joint fund with equal ownership by the six Gulf Cooperation Council countries’ sovereign wealth funds. Mohamed also held operational roles in technology in the US as well as venture capital investments at Bell Labs’ New Ventures Group. Mohamed holds both a Bachelor’s and Master’s degrees from Massachusetts Institute of Technology in Electrical Engineering & Computer Science, and an MBA from Harvard Business School. Reading recommendations: - The Greatest: My Own Story by Muhammad Ali and Richard Durham - Deep Simplicity: Bringing Order to Chaos and Complexity by John Gribbin - A Path Forward for Sharing the Nile Water: Sustainable, Smart, Equitable, Incremental by Elfatih Eltahir Chapters: 0:00 Introduction 1:00 Global VC Outlook 10:00 VC’s role in Pakistan’s economy 17:55 IFC’s VC role in Pakistan 26:36 How to turbocharge the tech ecosystem 31:50 IFC’s investment strategy in Pakistan 35:10 Innovating through failure 39:40 Inclusion in entrepreneurship 44:50 Reading recommendations

In this episode, Uzair talks to Marcello Estevão, who is the Global Director of the World Bank Group’s Macroeconomics, Trade and Investment Global Practice (MTI). Marcello shares his perspective about the global economic outlook, why inflation is here to stay for a while, and what countries like Pakistan can do to navigate this tricky period. Marcello leads a large team of country economists, macroeconomists, and fiscal policy, debt, and macro-modeling experts. He is responsible for overseeing the delivery of the global analytical work on macroeconomics, fiscal policy, and debt policy; for coordinating the strategic direction of MTI and implementing it; for helping to shape and oversee MTI’s country/regional programs; and for mobilizing staff to work more effectively across Equitable Growth, Finance and Institutions (EFI) and other Global Practices. Reading Recommendations: - A River Runs Through It by Norman Maclean - The Old Man and the Sea by Ernest Hemingway - The General Theory of Employment, Interest, and Money by John Maynard Keynes Chapters: 0:00 Introduction 1:30 Where is the global economy today? 10:40 How do emerging markets navigate this? 16:40 Dealing with dollar debt 21:40 Will inflation come down soon? 27:05 Countries that have done well

The brutal murder of Arshad Sharif in Kenya has once again raised questins about free expression in Pakistan. While the details about the murder still remain murky, it is important to talk about how the state and its institutions exert influence over expression, particularly in the digital media domain. In this episode, Uzair talks to Ramsha Jahangir about digital media freedoms in Pakistan. Ramsha Jahangir is an award-winning journalist and an Erasmus Mundus scholar. Ramsha has extensively reported on the intersection of technology and human rights in Pakistan, focusing on disinformation, internet regulation, and digital politics. She is currently working at Global Network Initiative (GNI) as a senior policy and communications associate. She tweets @ramshajahangir. Reading Recommendations: - The People Vs Tech: How the Internet is Killing Democracy (and how We Save It) by Jamie Bartlett - The Death of the Gods: The New Global Power Grab by Carl Miller Chapters: 0:00 Introduction 3:30 Ways to curb free expression 10:20 Where do things go from here? 16:20 Why are journalists on the periphery ignored? 19:50 How different is Pakistan? 25:10 What are better models in terms of policy? 33:10 Policy and investment in tech 38:00 Should we be hopeful? 42:40 Reading recommendations

The recent comments by US President Joe Biden set off a short-lived firestorm in Pakistan, while also bringing front and center Pakistan's nuclear program and the safety of its weapons. In this episode, Uzair talks to Dr. Christopher Clary about Pakistan's nuclear weapons and their safety, discussing what the risks are and how Pakistan has invested in securing its nuclear weapons. Dr. Christopher Clary is an Assistant Professor of Political Science University at Albany. His research focuses on the sources of cooperation in interstate rivalries, the causes and consequences of nuclear proliferation, U.S. defense policy, and the politics of South Asia. Reading Recommendations: - Eating Grass by Feroz H. Khan - Pakistan’s Pathway to the Bomb by Mansoor Ahmed - The Limits of Safety by Scott Sagan Chapters: 0:00 Introduction 2:10 Remarks by Biden 5:40 Recent developments around nukes 10:10 Political instability and nuclear safety 15:00 AQ Khan’s role 23:20 Changes after AQ Khan 33:30 Are there any concerns? 39:30 Is Pakistan too big to fail? 45:00 Impact of Biden’s statement on US-Pakistan relations 49:30 Reading recommendations

Iran has been rocked by protests, which are currently in their fourth week. Nearly 200 people have died and thousands injured. Sparked by the brutal killing of Mahsa Amini, these protests are a sign that all is not well in the country. In this episode, Uzair talks to Dr. Neda Bolourchi about what is going on in Iran and the path forward for the country. Dr. Neda Balourchi is Associate Director and Post Doctoral Associate, Middle Eastern Studies Program at Rutgers University. Her research focuses on the roles of religion, race, and secularism in the formation of Middle Eastern nation-states. Reading Recommendations: - Khomeinism: Essays on the Islamic Republic by Ervand Abrahamian - Female Religious Authority in Shi'i Islam: Past and Present by Mirjam Kunkler - Staging a Revolution: The Art of Persuasion in the Islamic Republic of Iran by Peter Chelkowski Chapters: 0:00 Introduction 2:20 What’s going on in Iran? 8:00 Underlying factors behind the protests 15:30 Why are younger Iranians angry? 25:00 Is the regime looking inwards? 29:00 Violence in Iranian Balochistan 37:30 International response 47:10 Should the international community do more? 54:30 What comes next? 1:00:23 Reading recommendations 1:07:20 Conclusion

We are back after a brief hiatus and in this episode, Uzair talks to Khurram Husain about the return of Ishaq Dar, who is already making headlines and "shouting down the dollar." We talk about what Dar's return means, the recent FX scandal casting a dark shadow over banks, and whether any political party has a serious plan to deal with the ongoing economic crisis. Khurram Husain is a business and economy journalist who most recently served as editor of Profit Magazine. Chapters: 0:00 Introduction 1:20 What does Dar’s return mean? 22:40 Restructuring Chinese debt 33:30 Does the PTI have a plan? 40:20 Energy security strategy 43:40 The banks’ FX scandal 51:00 Why is the rupee appreciating? 59:20 Media’s love for Dar 1:02:00 Conclusion